City of Columbus - File #: 1753-2006

• File #: 1753-2006
• Version: 1
• Type: Ordinance
• Status: Passed
• File created: 9/29/2006
• In control: Public Service & Transportation Committee
• On agenda: 10/16/2006
• Final action: 10/18/2006
• Title: To authorize the Director of the Public Service Department to execute those documents required to transfer the first alley east of Douglass Street from Oak Street to the alley north of Oak Street to Fabulous Real Estate Investments, LLC at no charge as recommended by the Land Review Commission; to waive the competitive bidding provisions of Columbus City Codes; and to declare an emergency.

Date	Ver.	Action By	Action	Result
10/18/2006	1	MAYOR	Signed
10/18/2006	1	ACTING CITY CLERK	Attest
10/16/2006	1	Columbus City Council	Approved	Pass
10/16/2006	1	COUNCIL PRESIDENT	Signed
10/5/2006	1	SERVICE DIRECTOR	Reviewed and Approved
10/5/2006	1	CITY ATTORNEY	Reviewed and Approved
10/5/2006	1	SERVICE DIRECTOR	Sent to Clerk's Office for Council
10/4/2006	1	Service Reviewer	Reviewed and Approved
9/29/2006	1	Service Drafter	Sent for Approval

Explanation

The City of Columbus, Public Service Department, Transportation Division, received a request from Fabulous Real Estate Investments, LLC, ("the Developer") asking that the City transfer the first alley east of Douglass Street from Oak Street to the alley north of Oak Street to them. The Developer is converting what is currently a collection of vacant and deteriorating buildings into 31 high-end condo units to be known as the "Olde Towne Condominiums". In addition, ground floor commercial space will be developed at the northwest and at the southwest corners of this site. Sale of this alley, which is completely enclosed by the condo complex, will allow the Developer to combine individual parcels into one unified property and will allow the Developer to construct a new 16 space garage to provide additional parking for the new complex. Per current Transportation Division practice, comments were solicited from interested parties, including City departments, private utilities and applicable area commissions, before it was determined that there would be no adverse impact to the City upon transfer of this alley, subject to the retention of a general utility easement for those utilities currently located within this alley. The Department of Law, Real Estate Division, established a value of $5,400.00 for this right-of-way. In recognition of the substantial increase in tax revenue, including but not limited to real property and income taxes, generated by the development of this project and in recognition of the significant improvement this development will make to the neighborhood the Land Review Commission voted to recommend that this alley be transferred to Fabulous Real Estate Investments, LLC at no charge.

Emergency Justification: Emergency action is requested so that the individual parcels can be combined into one, financing arrangements can be finalized, and redevelopment of this site can begin without delay.

Title

To authorize the Direc...